I’m Laura Leyshon and I’m Las Palmas’ resident property expert. I work for RE/MAX Cony Overseas, one of the city’s oldest estate agencies and the first RE/MAX office to open in Europe. Cony Overseas has an excellent local reputation and has helped hundreds of foreign buyers and sellers in Las Palmas and all over Gran […]
Owning a beachfront property in Gran Canaria is the dream but it isn’t always as expensive as you imagine.
The price of beachfront living in Gran Canaria
Beach and waterfront properties in Gran Canaria are in short supply and occupy their own price bracket. They are always the most expensive property per square metre in a particular area.
That said, many owners list their beachfront property at an optimistic price at first.
So, do your research and make a reasonable offer in line with other similar property in the area. You may well find that owners are willing to be realistic if their initial price isn’t met.
A local estate agent with up-to-date information about beachfront price trends is essential (I happen to know a good one).
Beachfront property prices around Gran Canaria
In San Agustín and Bahia Feliz, prices start at around 4000 per square metre,
Beachfront properties in Las Palmas de Gran Canaria city sell for a minimum of 5000 euros per square metre.
You’ll pay even more for a penthouse by Las Marañuelas beach in Arguineguín. And anywhere within hearing distance of the waves in Playa de Mogán.
However, head away from the resorts and the big city and prices get more reasonable.
For example, in Sardina del Norte apartments with an open terrace and direct sea views sell for around 2000 euros per square metre. And that’s on a complex with a swimming pool (but a natural pool rather than a beach).
In Puerto de las Nieves, the sunniest spot in north Gran Canaria, beachfront apartments sell for around 2000 per metre.
Along the east coast of Gran Canaria, in spots like Salinetas and Arinaga, beachfront apartments go for 1000 per metre and upwards.
Note that while the east coast has a windy reputation, the wind only really blows during the summer.
The advantages and disadvantages of Gran Canaria beachfront property
Between the sunshine and the sea air, expect to do a fair bit of maintenance on your seafront Gran Canaria property. Your electronic devices, from washing machines to laptops, wear out fast. Parquet and sandy feet really don’t mix!
Seafront property is always popular for holiday lets but the yield is rarely as good as it is for cheaper property close to the beach. The premium you pay to buy the beach view is higher than the premium you can charge to rent it out!
That said, the supply of property with a direct view is limited so you will always be able to generate a good income.
And, beachfront property holds more of its value during downturns and is always in high demand amongst foreign buyers.
How to buy a beachfront Gran Canaria property
Buying a beachfront property is like buying anything else in Gran Canaria. However, here are a few things that you must check…
- Is the building legal? Some older beachfront properties are illegal as they are too close to the sea. Others are in a legal grey area because they don’t conform to modern building regulations. They can’t be demolished but modernisation can be tricky.
- What is the status of your outside space? Is it yours, do you have sole rights to use it, or does it belong to the community of owners? If it’s communal, what are you allowed to use it for? Who is financially responsible for its upkeep?
- Are you allowed to rent the property on a short term basis in the area? Is it in a complex with a central management authority that handles rentals? Does the communidad prohibit tourist rentals?
Looking for Gran Canaria beachfront property?
To find your perfect beachfront property, you can scour the Spanish property portals and sign up to lots of estate agent newsletters.
Or, you can get in touch and tell me what you’re looking for as I monitor the waterfront market here in Gran Canaria every day. I’ll only send you property that I know suits your requirements.
However you decide to proceed, remember that good seafront property tends to sell fast so you will need to be ready.
You’ll need a 10% deposit ready to transfer or already in your Spanish bank account and all the paperwork you need to get an NIE number. And you may well need to be flexible enough to fly out to view property at short notice.
If you need a mortgage, get your paperwork into several local banks in advance. See my Gran Canaria mortgage guide.
I’m Laura and I’m an estate agent working for RE/MAX Cony Overseas, one of the island’s oldest and best-regarded agencies. We’re based up in Las Palmas but I work with buyers all over Gran Canaria.
Please feel free to get in touch if you have any questions about the Gran Canaria property market. Or just drop me a message right here and I’ll contact you right away.